Member expulsion and field of membership expansion bills moving through Congress

Published by: Jared Weiser

March 23, 2022 | Political Action

Telling decision-makers your credit union’s story, like thousands of credit union leaders did during the 2022 CUNA GAC, can move the advocacy needle in a gridlocked Congress to better serve Ohio credit unions and 3.1 million members. That proof manifested with the recently enacted Credit Union Governance Modernization Act, which modernizes the member expulsion process for federally chartered credit unions. Previously, a full membership vote was required to oust an unruly member. These changes empower federally chartered executive teams and boards to make the best decision possible to protect staff and their credit union and its members.

Securing incremental changes through Congress leads to the potential for more impactful legislation, like recently introduced H.R. 7003, the Expanding Financial Access for Underserved Communities Act. H.R. 7003 proposes several field of membership expansion opportunities for federally chartered credit unions into underserved communities. The bill also exempts any member business loan made within an underserved area from the member business lending cap, regardless of charter type. The League and CUNA will continue garnering bipartisan support for H.R. 7003 as it is considered by the U.S. House Financial Services Committee.

Feel free to reach out to Legislative Affairs Director Jared Weiser if you have any questions or would like to engage Congress on these bills within the legislative process.

Contact Jared Weiser for questions or assistance.

Jared Weiser
Jared Weiser Director, Legislative Affairs E: jweiser@ohiocul.org
Contact Us

Other Movement News

Government Affairs

Election night success for credit unions; see how the midterms impact your credit union

Thanks to your generous support throughout the 2021-2022 elections, the Ohio Movement engaged with 122 decision-makers and invested more than $570,000 in state and federal legislative champions. Your partnership led […]
Regulatory

Year end snapshot: State and federal credit union priorities

Just like your credit union, the League is hard at work ensuring a successful year end and is focused on promoting and protecting credit union interests at the Statehouse and in Congress. Here are the League’s top issues as legislators wrap up their sessions: House Bill 116, the Ohio Computer Crimes Act, would close a legal loophole that bad actors can exploit to access sensitive data and information without penalty.
Member Benefits

Tips to keep your members safe this holiday season

Help your members stay financially safe during the holiday season by downloading helpful tips in December’s Monthly Marketing Toolkit, a complimentary resource as part of your League membership.